But as far as where?

As far as the deal, I am hoping it works out.

I believe we are at a point where you will see people that are in the business of flipping homes and buying homes that potentially will go out of business because they do not have enough inventory to buy, renovate, and flip, or hold because the wholesale inventory is so low.

As far as timing if you can do it now then great since I assume this is the slow season in NE, but if it really is that big of a delay then don't worry about it so you have time to really plan and make sure you knock it out quick.

Our income tax return will be married filing jointly, so it doesn't matter for us if he gets 75% and I get 25% or I get 100% and he gets 0, but does it matter as far as the tax return for the LLC is concerned?

Focus more on cash flow because the rent demand is so high.

As far as seller financing and land contract options, you can post in the local real estate forums and some landlords and investors will actually sell rentals they have on terms but a realtor, or you, could also ask seller and a real estate lawyer can structure the contracts.  

There are so many options and many have similarities as far as commission splits and training at least what they advertise online. 

This is so good, up until recently I had 3 renovation projects going here in Columbus at the same time and it was a complete cash drainer.

There are many other things to consider and watch out for, but could work out well to get you something up and running.As far as a LTR, depending on price point are very competitive as most good markets are.